Squawk Pod

Anthropic’s S-1 is out! Wall Street, Silicon Valley, and Squawk Box are dissecting it and what it means for the AI ecosystem and other AI IPOs. CNBC’s Leslie Picker unpacks the eye-popping numbers and the remaining questions after the landmark filing. Microsoft is offering voluntary buyouts to 27% of its total workforce as the company ramps up its spend on AI compute power. In an exclusive conversation, World Bank President Ajay Banga explains the AI opportunities around the world, including in developed and developing economies. Fresh off the Global AI and Digital Summit in South Korea, he’s focused on developing critical mining infrastructure and AI innovation in agriculture, infrastructure, healthcare, and tourism. Electronic Arts co-founder Bing Gordon, the man responsible for Madden NFL and The Sims, is out with a book of life lessons, co-authored with his daughter. Leslie Picker - 02:26 Ajay Banga - 17:16 Bing Gordon - 28:51 In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Leslie Picker, @LesliePicker Katie Kramer, @Kramer_Katie

OpenAI is working on a $30 billion funding round from Coatue and the UAE, among others, which would bring the company’s valuation up to $1.25 trillion before Anthropic’s imminent IPO. Elon Musk's ambitions for SpaceX include a merger with Tesla and a strategy for cell towers. President Trump reportedly asked Elon Musk to restore Ukraine’s access to Starshield, but Business school professor Christopher Marquis wants to reform MBA programs, and Moderna’s new vaccine data is good news for melanoma treatment. Plus, CNBC’s Steve Liesman shares more results from his latest All-America Economic Survey, including the approval ratings for President Trump and American sentiment around AI. Steve Liesman - 15:42 Christopher Marquis - 22:46' In this episode: Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Steve Liesman, @steveliesman Katie Kramer, @Kramer_Katie

SpaceX shares jumped after it reported surging revenue growth and Elon Musk floated a potential merger of the company with Tesla. Altimeter Capital’s Brad Gerstner says Musk needs to make sure a deal is fair for Tesla shareholders and expects at least a 30% premium to where the stock trades today. United Airlines slashed its profit outlook as fuel costs continue to bite. CEO Scott Kirby says airfares will have to go up in order for carriers to be profitable. Brad Gerstner - 18:18 Scott Kirby - 47:44 In this episode: Brad Gerstner, @altcap Phil LeBeau, @Lebeaucarnews Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Ryan Anastasio, @Ryan_Anastasio

From the White House, National Economic Council Director Kevin Hassett emphasizes consumer sentiment as key to interpreting economic and inflation data. As national cases of the measles rise, former FDA Commissioner Dr. Scott Gottlieb discusses public health and the FDA’s launch of its Rare Disease Framework Initiative for drug development. Russian President Putin has floated a summit between himself, Chinese President Xi, and President Trump to discuss ending the war in Ukraine. Ukrainian President Zelenskyy, reportedly not included in that summit, has suggested that the U.S. government’s actions have hindered Ukraine’s war defense, and Treasury Secretary Scott Bessent has fired back at President Zelenskyy’s accusations. Plus, the Elizabeth Holmes documentary scored the largest open for a non-music documentary in two decades, Anthropic has announced an intention to donate 5% of its shares to a “public benefit fund,” and Elon Musk has pledged a SpaceX share to every child in America. Kevin Hassett - 15:32 Dr. Scott Gottlieb - 28:13 In this episode: Scott Gottlieb, @scottgottliebMD Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Investors are rotating out of tech stocks amid growing concerns around record-high interest rates and possible overspending on artificial intelligence. Rockefeller Capital CEO Greg Fleming, a Wall Street veteran, discusses his take on the markets and the policy driving unease. New York City Comptroller Mark Levine sent a letter to Anthropic’s CEO Dario Amodei asking the company to delay its upcoming IPO. He says the listing will distract the company from focusing on safety and that the U.S. needs federal regulation on AI. Plus, Ukraine says it will restart strikes on Russian oil refineries and Berkshire Hathaway makes a $330 million investment in Bending Spoons. Greg Fleming 21:11 Mark Levine 39:26 In this episode: Mark Levine, @NYCComptroller Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Amid growing concerns about valuations and the AI boom, legendary investor Paul Tudor Jones joins for his take on the markets and his outlook for the new year. He predicts a strong fourth-quarter post the midterm elections but warns of challenges in 2027 due to negative flow pictures in the stock market. Author and professor Adam Grant is out with a new book, “Vibe: The Secrets of Strong Connections in a Lonely World.” He says we need to engage in “deep talk” when meeting someone new and ask questions that we would normally wait to ask at a second or third meeting. Plus, Anthropic warns AI models could soon copy themselves across home devices and hackers target French supermarket fridges. Paul Tudor Jones 11:53 Adam Grant 38:59 In this episode: Paul Tudor Jones, @ptj_official Adam Grant, @AdamMGrant Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

In a move that’s pushing telecom stocks lower, SpaceX has agreed to purchase a nationwide spectrum portfolio. Elon Musk biographer Walter Isaacson explains how this move fits into the rest of Musk’s vision for connectivity around the world–and around the solar system. As concerns about AI-fueled job displacement mount around the world, Chieh Huang–founder of Boxed–has started a new re-training venture for laid off employees. Huang explains how Pelgo translates layoffs and employer investment into a more skilled, less anxious workforce. Plus, Starbucks could be prepping to acquire Chipotle, and the Gulf Coast is bracing for Hurricane Isaias. Walter Isaacson 17:29 Chieh Huang 32:06 In this episode: Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

It’s day two of a new media behemoth under David Ellison’s Skydance umbrella. Founding partner of Puck Matt Belloni details the Paramount-Warner Bros. Discovery merger, and he considers the giant’s headwinds, including cable’s declining profits and ~$80 billion in debt. Michael Lewis wrote “Moneyball,” “The Big Short,” “Going Infinite,” and “The Blind Side,” and he’s now out with a new book: “Blockers: Rebels in the Deep State.” The bestselling author discusses government efficiency and his own dive into the federal workers who resisted in the early days of Elon Musk’s DOGE effort. Plus, protests rage on in France, young people are leaning away from beer, and tech billionaires are only getting bigger. Robert Frank - 08:23 Michael Lewis - 21:55 Matt Belloni - 35:07 In this episode: Matt Belloni, @MattBelloni Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Robert Frank, @robtfrank Katie Kramer, @Kramer_Katie

Director of National Intelligence Jay Clayton has been picked to serve as AI czar, leading a “Super Intelligence Force” to address growing concerns about AI. Meanwhile, OpenAI CEO Sam Altman is suggesting people “accept some bad things” in exchange for the benefits of AI. Professor, columnist, author, and happiness expert Arthur Brooks counsels AI users to retain control of their relationships in the AI era, and Senator Chris Coons (D-DE) discusses potential AI regulation. Plus, Treasury Secretary Scott Bessent goes on the record about the bond market, nearly 200 were hospitalized in Siberia after exposure to the plague, and elections in Brazil and Spain are coming in the next month amid unrest in each country. Arthur Brooks - 11:58 Sen. Chris Coons - 22:45 In this episode: Arthur Brooks, @arthurbrooks Sen. Chris Coons, @ChrisCoons Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Google is the latest tech giant to release its own AI agent as concerns about AI safety persist both inside and outside the tech industry. Elon Musk biographer, professor, and student of history Walter Isaacson discusses the AI doomsday narrative and the personality clashes behind the AI headlines. Airbnb CEO Brian Chesky weighs in on the future of AI agents, including his own efforts to build one and the larger rhetoric problem that Silicon Valley has, when it comes to AI. Chesky issues a wake up call to his fellow tech leaders. Plus, Mattel CEO Ynon Kreiz is moving to Paramount-WBD, and Foundayo’s latest trial results made good news for Eli Lilly. Walter Isaacson - 18:31 Brian Chesky - 33:37 In this episode: Brian Chesky, @bchesky Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

One week after a friendly summit between Chinese President Xi Jinping and U.S. President Donald Trump, CNBC details an aggressive plot by China to infiltrate one of the United States’ most important institutions: the Federal Reserve. This explosive documentary delves into the incredible saga of a Chinese spy's effort to obtain secrets from the inner confines of the US top bank. It's a tale of sex, money, deceit and betrayal that put some of the country’s vital economic and financial secrets at risk. With exclusive access to new documents, audio, photos and text messages, CNBC's Senior Washington Correspondent Eamon Javers uncovers the story of former Fed economist John Rogers and a Chinese spy posing as an economics student who he befriended in 2013. “Inside Man” is a spy story at the heart of the competition for global economic dominance, posing the question of whether Rogers was a spy himself or an unwitting dupe. Watch the full documentary, read the article and explore excerpts from Rogers’ text message history here: cnbc.com/insideman

In an extended interview, Nvidia CEO Jensen Huang explains the company’s newest AI safety software–part of an effort to create a modern web browser for AI. Huang makes the case to innovate and understand technology before attempting to regulate it. Then, former Disney CEO Bob Chapek unveils his memoir, “Inside the Castle Walls: My Thirty Years at the Happiest Place on Earth.” Chapek recounts his long career at Disney and his tumultuous two and a half years as CEO, before being replaced by the very leader he succeeded: Bob Iger. Chapek reflects on the dramatic and disappointing end to his tenure. Plus, Bill Gates has issued another warning on AI. Jensen Huang - 09:32 Bob Chapek - 38:36 In this episode: Jensen Huang, @JensenHuang Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Meta’s Muse Charm launch has prompted a surge in Meta stock as investors consider the wider implications of a device to harness AI. Media and tech watching Rich Greenfield discusses the gravity of this moment in the AI revolution and the value it could create for Meta shareholders. AOL co-founder Steve Case weighs in on the liability and regulatory issues that arise in a tech revolution. Plus, China’s President Xi Jinping is visiting the U.S. for the first time in 11 years, and the 30-year Treasury bond yield has hit its highest level since 2004, as investors weigh the likelihood of another rate hike from the Fed. Rich Greenfield - 17:00 Steve Case - 27:20 In this episode: Rich Greenfield, @RichLightShed Joe Kernen, @JoeSquawk Kelly Evans, @KellyCNBC Cameron Costa, @CameronCostaNY